Annovis Bio’s (ANVS) “Buy” Rating Reaffirmed at Rodman & Renshaw

Rodman & Renshaw reaffirmed their buy rating on shares of Annovis Bio (NYSE:ANVS) in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a $67.00 target price on the stock.

Several other research firms have also recently issued reports on ANVS. Canaccord Genuity Group decreased their price objective on shares of Annovis Bio from $36.00 to $26.00 and set a buy rating for the company in a report on Tuesday, April 30th. HC Wainwright reiterated a buy rating and issued a $23.00 price objective on shares of Annovis Bio in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $32.20.

Annovis Bio Trading Up 74.9 %

NYSE ANVS opened at $9.22 on Tuesday. Annovis Bio has a 52 week low of $4.53 and a 52 week high of $22.49. The stock has a market cap of $102.94 million, a price-to-earnings ratio of -1.60 and a beta of 1.75. The company has a 50-day moving average price of $6.99 and a two-hundred day moving average price of $9.89.

Annovis Bio (NYSE:ANVS) last posted its earnings results on Monday, May 13th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.15. As a group, equities research analysts expect that Annovis Bio will post -2.46 earnings per share for the current fiscal year.

Institutional Trading of Annovis Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Trust Co. NA purchased a new stake in shares of Annovis Bio in the 4th quarter valued at approximately $56,000. Cetera Advisors LLC purchased a new stake in shares of Annovis Bio in the 1st quarter valued at approximately $122,000. Greenwich Wealth Management LLC purchased a new stake in shares of Annovis Bio in the 4th quarter valued at approximately $192,000. Wealthspire Advisors LLC lifted its position in shares of Annovis Bio by 9.9% in the 4th quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after acquiring an additional 990 shares in the last quarter. Finally, Redmond Asset Management LLC lifted its position in shares of Annovis Bio by 6.1% in the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock valued at $430,000 after acquiring an additional 2,077 shares in the last quarter. 15.83% of the stock is owned by institutional investors and hedge funds.

About Annovis Bio

Annovis Bio, Inc, a clinical stage drug platform company, develops drugs to treat neurodegeneration. The company's lead product candidate is Buntanetap, which has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.